Purchase Rights and Obligations. (a) Unless otherwise provided for herein, at any time within 180 days following a Participant's termination of employment or services with Defco and its Subsidiaries, the Company shall have the right, but not the obligation, to purchase from the Participant and to cause the Participant to sell, all, but not less than all, of the vested portion of the Class B-1 Interests (taking into account any accelerated vesting under Sections 5 or 6) for an amount equal to the Fair Market Value on the date of the Participant's termination of employment (the "Purchase Price").
Purchase Rights and Obligations. 4.1 During the Initial Term and each Renewal Term of this Agreement, Anachip shall have the right to purchase, and LSC, upon receipt of a duly completed Purchase Order, shall sell to Anachip such number of units of Products as Anachip may request.
Purchase Rights and Obligations. Lessee has the right to acquire the Leased Property pursuant to certain mandatory and optional purchase rights, options and obligations set forth in the Lease. It is expressly understood and agreed that for purposes of Sections 365(h) and 365(i) of the Bankruptcy Code of the United States of America, 11 U.S.C. Sections 365(h)-(i), (a) the Lessee shall be deemed to be in possession of the Leased Property by virtue of (i) the possessory interest therein granted to the Lessee under the Lease and (ii) its beneficial ownership interest in the Leased Property, and (b) in the event of any rejection or disaffirmance of the Lease in any bankruptcy or similar proceeding relating to the Lessor, the Lessee may (1) elect to remain in possession of the Leased Property for the balance of the Term at the Fair Market Rental Value, including all extensions exercisable under the Lease, and/or (2) exercise its mandatory and optional purchase rights, options and obligations set forth in the Lease, at the option of the Lessee.
Purchase Rights and Obligations. 4.1. During the Initial Term of this Agreement, LPSC has the right to purchase, and FabTech, upon receipt of a duly completed PO, shall sell to LPSC up to the Maximum number of Wafers per month during the calendar quarter set forth on Attachment 2 attached hereto and identified on the table titled Monthly Wafer Maximum/Minimum Order by LPSC.
Purchase Rights and Obligations. Each Buyer shall have the ------------------------------- right to purchase from Seller, and Seller shall have the obligation to sell to each Buyer, Licensed Engines, Components and Service Parts on the terms and subject to the conditions set forth herein and in the other Related Agreements. Case shall also have the right to purchase from Seller, and Seller shall have the obligation to sell to Case, on the terms and subject to the conditions of this Purchase Agreement, Case Products that the Partnership produces for Case in accordance with Article III of the Sponsors' Agreement. Cummins shall also ----------- have the right to purchase from Seller, and Seller shall have the obligation to sell to Cummins, on the terms and subject to the conditions of this Purchase Agreement, Cummins Products that the Partnership produces for Cummins in accordance with Article III of the Sponsors' Agreement. The terms and ----------- conditions of this Purchase Agreement shall not apply to the provision of engines by Cummins under the Engine Transfer Agreement, except as expressly provided in the Engine Transfer Agreement.
Purchase Rights and Obligations. For each type of triggering event, the buy-sell should specify whether the resulting right to purchase the departing owner’s interest is optional or mandatory. Additionally, the continued on page 12 December 2012 Nevada Lawyer 11 BUY-SELL AGREEMENTS continued from page 11 agreement must indicate whether such buyout right is to be exercised by the company or the individual owners. More often than not, both have buyout rights and, in such case, the buy- sell needs to address the order of priority. For example, do the owners have the option to purchase the interest only after the company declines to redeem the interest? If the owners have the right to purchase, and all remaining owners wish to exercise such right, will each owner purchase the interest on a pro rata basis or otherwise?
